ENXTPA:ITP

Stock Analysis Report

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Executive Summary

Interparfums SA creates, manufactures, and distributes perfumes through proprietary basis or license agreement with brands in ready-to-wear, fashion, jewelry, and accessories markets.

Rewards

Earnings are forecast to grow 1.27% per year

Earnings grew by 7.4% over the past year

Risk Analysis

No risks detected for ITP from our risk checks.


Snowflake Analysis

Excellent balance sheet with proven track record.

Share Price & News

How has Interparfums's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ITP has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

4.7%

ITP

-0.7%

FR Personal Products

3.5%

FR Market


1 Year Return

-17.4%

ITP

4.3%

FR Personal Products

-9.4%

FR Market

Return vs Industry: ITP underperformed the French Personal Products industry which returned 4.3% over the past year.

Return vs Market: ITP underperformed the French Market which returned -9.4% over the past year.


Shareholder returns

ITPIndustryMarket
7 Day4.7%-0.7%3.5%
30 Day-2.2%2.1%4.2%
90 Day0.8%1.9%-13.7%
1 Year-17.4%-17.4%4.3%4.3%-7.6%-9.4%
3 Year14.9%11.2%36.1%31.5%1.4%-6.9%
5 Year80.7%68.2%57.9%47.1%18.8%1.3%

Price Volatility Vs. Market

How volatile is Interparfums's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Interparfums undervalued compared to its fair value and its price relative to the market?

27.77x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ITP (€31.2) is trading above our estimate of fair value (€18.96)

Significantly Below Fair Value: ITP is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ITP is poor value based on its PE Ratio (27.8x) compared to the Personal Products industry average (25x).

PE vs Market: ITP is poor value based on its PE Ratio (27.8x) compared to the French market (14.6x).


Price to Earnings Growth Ratio

PEG Ratio: ITP is poor value based on its PEG Ratio (21.9x)


Price to Book Ratio

PB vs Industry: ITP is overvalued based on its PB Ratio (3.2x) compared to the XE Personal Products industry average (1.8x).


Next Steps

Future Growth

How is Interparfums forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

1.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ITP's forecast earnings growth (1.3% per year) is above the savings rate (0.6%).

Earnings vs Market: ITP's earnings (1.3% per year) are forecast to grow slower than the French market (13% per year).

High Growth Earnings: ITP's earnings are forecast to grow, but not significantly.

Revenue vs Market: ITP's revenue (2.4% per year) is forecast to grow slower than the French market (3.9% per year).

High Growth Revenue: ITP's revenue (2.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ITP's Return on Equity is forecast to be low in 3 years time (8.9%).


Next Steps

Past Performance

How has Interparfums performed over the past 5 years?

16.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ITP has high quality earnings.

Growing Profit Margin: ITP's current net profit margins (10.5%) are higher than last year (10.4%).


Past Earnings Growth Analysis

Earnings Trend: ITP's earnings have grown by 16.5% per year over the past 5 years.

Accelerating Growth: ITP's earnings growth over the past year (7.4%) is below its 5-year average (16.5% per year).

Earnings vs Industry: ITP earnings growth over the past year (7.4%) exceeded the Personal Products industry 1.5%.


Return on Equity

High ROE: ITP's Return on Equity (11%) is considered low.


Next Steps

Financial Health

How is Interparfums's financial position?


Financial Position Analysis

Short Term Liabilities: ITP's short term assets (€412.4M) exceed its short term liabilities (€116.3M).

Long Term Liabilities: ITP's short term assets (€412.4M) exceed its long term liabilities (€20.2M).


Debt to Equity History and Analysis

Debt Level: ITP's debt to equity ratio (2.2%) is considered satisfactory.

Reducing Debt: ITP's debt to equity ratio has increased from 0.3% to 2.2% over the past 5 years.

Debt Coverage: ITP's debt is well covered by operating cash flow (493.7%).

Interest Coverage: ITP earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Interparfums's current dividend yield, its reliability and sustainability?

2.56%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ITP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ITP's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ITP's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ITP's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: ITP is not paying a notable dividend for the French market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ITP's dividend in 3 years as they are not forecast to pay a notable one for the French market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

26.3yrs

Average management tenure


CEO

Philippe Bénacin (60yo)

31.33yrs

Tenure

€1,041,321

Compensation

Mr. Philippe Bénacin is a Co-Founder of Inter Parfums Inc. since 1985 and served as its President of European Operations since March 9, 2017. Mr. Bénacin co-founded Inter Parfums SA in 1989 and has been it ...


CEO Compensation Analysis

Compensation vs Market: Philippe's total compensation ($USD1.14M) is about average for companies of similar size in the French market ($USD1.28M).

Compensation vs Earnings: Philippe's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Philippe Bénacin
Co-Founder31.33yrs€1.04m0.012% 182.1k
Jean Madar
Co-Founder & Director26.42yrs€1.13m0.012% 180.6k
Philippe Santi
Chief Financial & Legal Officer16.08yrs€999.13k0.024% 351.1k
Frédéric Garcia-Pelayo
Executive VP11.08yrs€1.01m0.024% 350.9k
Cyril Levy-Pey
Communication Directorno datano datano data
Angèle Ory-Guénard
Executive Vice President of International Salesno datano datano data
Delphine Pommier
Executive Vice President of Marketing Development & Communicationno datano datano data
Véronique Duretz
Vice President of Human Resourcesno datano datano data
Pierre Desaulles
Managing Director of Interparfums Luxury Brandsno datano datano data
Renaud Boisson
Managing Director of Asia Pacific4.33yrsno datano data

26.3yrs

Average Tenure

57.5yo

Average Age

Experienced Management: ITP's management team is seasoned and experienced (26.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Philippe Bénacin
Co-Founder31.33yrs€1.04m0.012% 182.1k
Jean Madar
Co-Founder & Director26.42yrs€1.13m0.012% 180.6k
Philippe Santi
Chief Financial & Legal Officer16.08yrs€999.13k0.024% 351.1k
Frédéric Garcia-Pelayo
Executive VP11.08yrs€1.01m0.024% 350.9k
Patrick Choël
Director15.42yrs€30.00k0.0045% 66.2k
Chantal Roos
Independent Director11.08yrs€28.00k0.0015% 22.6k
Marie-Ange Verdickt
Independent Director5.08yrs€30.00k0.0062% 91.3k
Maurice Alhadève
Independent Director16.08yrs€34.00k0.00094% 13.8k
Véronique Gabaï-Pinsky
Director3.08yrs€28.00k0.00077% 11.3k
Dominique Cyrot
Independent Director8.08yrs€30.00k0.0067% 97.9k

13.3yrs

Average Tenure

59.5yo

Average Age

Experienced Board: ITP's board of directors are seasoned and experienced ( 13.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Interparfums SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Interparfums SA
  • Ticker: ITP
  • Exchange: ENXTPA
  • Founded: 1982
  • Industry: Personal Products
  • Sector: Household
  • Market Cap: €1.468b
  • Shares outstanding: 47.06m
  • Website: https://www.interparfums.fr

Number of Employees


Location

  • Interparfums SA
  • 4, Rond-Point Des Champs-Élysées
  • Paris
  • Ile-de-France
  • 75008
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ITPENXTPA (Euronext Paris)YesOrdinary SharesFREURApr 1994
0IUJLSE (London Stock Exchange)YesOrdinary SharesGBEURApr 1994
I8PDB (Deutsche Boerse AG)YesOrdinary SharesDEEURApr 1994
ITPPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURApr 1994

Biography

Interparfums SA creates, manufactures, and distributes perfumes through proprietary basis or license agreement with brands in ready-to-wear, fashion, jewelry, and accessories markets. The company serves customers under Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.Dupant, and Van Cleef and Arples brand names. The company distributes its products through wholly owned distribution subsidiaries or joint ventures, independent companies, subsidiaries of luxury good corporations, and duty free operators worldwide. Interparfums SA was founded in 1982 and is headquartered in Paris, France. Interparfums SA operates as a subsidiary of Inter Parfums Holding S.A. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/28 11:52
End of Day Share Price2020/05/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.